Bitcoin’s Selloff Driven by Options, but Also Interest Rates, Fed Policy
- Thread starter ajacobson
- Start date
I personally also don't think any of those things matter. Bitcoin is a speculative market. When it reaches the stratosphere, it sells off like every other pump and dump in history for no reason other than its just too high. Only difference is its got 9 lives, and people keep buying it to bring it back from the dead.
I think this is spot on.
All you have to do is bet the farm near the bottom of a bear market, and you'll be rich in a few years time. It's sure fire guaranteed!
I couldn't bring myself to pull the trigger at $4000 in early 2019 but I'm ready and waiting with a pile of cash for the next one.
What could possibly go wrong.
Bitcoin is supposed to be holder of value, or quasi-money. So what Bitcoin is? It crumbles under market stress. It is not backed by any government (except Ecuador?), but by some clowns hidden at some dark corners).
Nobody knows where Bitcoin price should go. That is the problem. It is a speculation vehicle, nothing else.
Nobody knows where Bitcoin price should go. That is the problem. It is a speculation vehicle, nothing else.
Nearly everybody on this forum has this opinion, despite the now 13-year spectacular returns (170%/yr). Just speculative vehicle, no use case, bubble, pump and dump, etc
Guys open your mind a little bit - this is extremely wrong. Don't take my word for it - look at the market!
Nothing makes me quite as bullish on BTC as these boomer takes (no offense)
Guys open your mind a little bit - this is extremely wrong. Don't take my word for it - look at the market!
Nothing makes me quite as bullish on BTC as these boomer takes (no offense)
For any volatility trader, BTC is priceless. One thing is certain, it will go up, it will go down several times within a 90 day frame.
Ya, if you only want 15% up and down, come to crypto.
In 2022, when Fed tightens money policy and take off the excess $$$ out of the money, Crypto is going to tumble. The only matters is the excess cash in the market. Crypto has no economic backing to it. The clowns at SEC and CFTC do not know what to do with it.
In 2022, when Fed tightens money policy and take off the excess $$$ out of the money, Crypto is going to tumble. The only matters is the excess cash in the market. Crypto has no economic backing to it. The clowns at SEC and CFTC do not know what to do with it.
u don’t consider 30% down in 2 weeks considered tumbling already ?
Even 5% is tumbling IMO. But other people can think otherwise.
All those banks and exchanges (like CME etc.) do not even recognize or support cryptos. But they want to profit from the "trading" of them. This is why during the old Gold Rush, the folks who made most of the money were the tool makers, restaurant owners, merchant stores and even whorehouses. Some gold diggers got rich with the gold. But most came back empty-handed....